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Saudi Aramco Makes Billions with Debut Sukuk

Saudi Aramco has raised 11.25 billion riyals (US$3 billion) in its debut Sukuk issuance, sources familiar with the matter said on Wednesday. The Islamic bond, part of a 37.5 billion riyal (US$10 billion) program, is the oil giant’s first fundraising exercise aimed at diversifying its revenues, impacted by low international oil prices.